Honour for Great-Yarmouth born insolvency expert

Great Yarmouth-born businessman Richard Favier whose dedicated work recovered more than a billion pounds for pensioners across the UK has been honoured with an OBE.

Mr Favier was recognised for his 'services to business' after his work for the Pension Protection Fund (PPF) recouped �1.2bn since it was founded in 2005. The 58-year-old received his illustrious title from Prince Charles during a special ceremony held at Buckingham Palace.

'It was certainly a special moment for me, but I have had a lot of great moments through my work for the PPF,' he said. 'The deals we have done to secure money for pensioners, which, as a result, have changed people's lives is very special to me.'

Mr Favier, who works as head of restructuring and insolvency for the PPF, grew up in Great Yarmouth and attended Oriel Grammar School -now known as Ormiston Venture Academy. After studying at Bradford University School of Management, he worked at the Official Receiver's Office in Norwich.

Since then, he has gone on to shape government legislation and give advice to the world's financial leaders.

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He was responsible for the introduction of the Insolvency Act 2000, while his financial expertise saw him selected for the Insolvency Law Working Group for the United Nations Commission on International Trade Law.

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